My Poloniex Day trading #cryptocurrency of the day is Ethereum Classic. The ETC:BTC paring has been on an upward trend and has seen a 22% gain over the last 48 hours.
As of right now, the Ethereum Classic price hovers near $38, and may very well push to $40 again.
There is some negative pressure forming on the ETC chart already, but no sudden $7 jump will go unpunished in any market.
Next week the ethereum classic (ETC) community is expecting to receive coins from a ‘snapshot’ fork called ‘callisto’ (CLO). The clone will be an exact copy of the ETC chain up until block 5,500,000 and ETC holders will receive a 1:1 ratio of CLO coins.
As for now the RSI is showing me there is a little more room for growth. I’m thinking my MA lines will cross at about the 0.0038 price point and the Bulls will top off at about 0.004 before we see a correction. Watch the volume and remember taking profits is always better than holding a bag.
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ETC was undervalued already so this is some good exposure with Callisto fork. I need to research more and find out if Charles Hoskinson is managing this or focussing only on Cardano..
Why would it correct before the airdop? Curious about this.
The airdrop is CLO not ETC